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week. avoiding the fiscal cliff is coming down to taxes. president obama told bloomberg tv yesterday he is willing to be flexible, but there will be no deal unless republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this building. we can't let these negotiations be dictated by the tea party." "we've wasted an enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. traders are keying off market moves for clues about the economy. scott bauer of trading advantage joins us now. scott, what is the gold market telling traders about the prosepects of the economy going over the fiscal cliff
to avoid another recession. at the end of the year, tax breaks expire and drastic spending cuts are due to take effect. bracing for those higher tax rates possibly coming next year, some corporations are handing out 2012 dividend payments that are looking more like christmas presents. walmart and dillard's are among several companies paying dividends in december instead of in early 2013. currently taxed at 15%, that rate, under automatic fiscal cliff increases, could more than double. many investors believe that no matter how the fiscal cliff situation is resolved, dividend tax rates will likely increase in 2013. jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a
leadership in online retail taxes." and there's a concerted public effort: the white house website features an appeal to "speak out to keep taxes from going up on the middle class." "if congress does nothing, taxes up $2200." that $2200 morphed into a white house twitter campaign - #my2k - to encourage americans to weigh in on the debate. but ultimately, this still comes down to negotiations within, but mostly across, party lines. it's not clear how much twitter or input from small business will sway the balance one way or another. "my view is that i'm happy to be a part of that. i'm grateful for the opportunity and it's not every day that you get to spend an hour in a room with the president." ceos from wall street met with the president wednesday. morgan stanley ceo james gorman is asking his 16,000 employees to reach their members of congress. and at&t's ceo, randall stephenson, is involved with a group called "fix the debt," which is lobbying congress as well. overhaul action is happening overseas. the european commission is proposing a plan that will completely change the eurozone by c
the clock on next year's expected tax increase. oracle's board has approved accelerated dividend payments for the second, third and 4th quarters of next year. nhl owners and players plan to meet today in a renewed effort to move the puck on labor talks. let's see what's going on with the market today with matt shapiro, president of mws capital. good morning to you. > > good morning angie. > this is certainly one moody market. it seems to move on every word that comes out of washington. > > absolutely. actually, i am surprised, given the stalemate that we had this weekend and the gop yesterday having a counter offer - they are miles apart, but the market really held in there, and i think, at this point, the market is just basically pricing in that nothing really good is going to happen in washington, at least for now. > what about manufacturing matt? the numbers came in solid for china, not so good for the u.s. there was a bit of a slip. > > i think some of that is the concern. but at least the silver lining is positive for china. but realize, china is $8 trillion. our market is about twic
by headlines regarding the fiscal cliff. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what the key is. putting a tax on a broad level, saying this will fix all, i think there would be so many unattended consequences as a result of that and what it opens the door for, i just think it is totally counterproductive and really not the solution. it's a hair trigger. > thanks for your thoughts today. good to have you on the show. have a good one. > > you too. president obama heads to philadelphia today to visit a toy manufacturing plant. it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener h
Search Results 0 to 4 of about 5